THE PEER-TO-PEER ECONOMY

Transcription

1 ta THE PEER-TO-PEER ECONOMY NATIONAL ATTITUDES AND ENGAGEMENT SURVEY Q CONSUMER RESEARCH SERIES

2 SUMMARY + MAJOR FINDINGS THE CONTINUAL GROWTH AND WIDESPREAD POPULARITY OF THESE PLATFORMS IS UNDENIABLE Peer-to-peer platforms have become vital to American travelers and consumers. This nationwide consumer survey commissioned jointly by the Travel Technology Association and the Internet Association shines a light on America s emerging sharing economy culture. 1 in 2 Americans report engaging the peer-to-peer economy in 2015 (46%), up 144% from 19% as reported by PricewaterhouseCoopers in December in 4 report engaging short-term rental platforms (23%), up 277% from 6%. 1 in 4 report engaging ridesharing platforms (28%), up 249% from 8%. The millions who utilize these platforms are not users of siloed tools but members of a broader culture. Whether booking on HomeAway, Airbnb, and Flipkey or riding with Uber, Lyft, and Sidecar, users are not only flocking to but also deriving immense value from peer-to-peer solutions. 2

3 SHORT-TERM RENTAL AMERICANS, GENERAL POPULATION PRIMARY FINDINGS 1 in 5 Americans have been a short-term rental guest (19.47%) More than 1 in 3 rate STRs as valuable or extremely valuable (35.69%). 1 in 2 believe local and state lawmakers should ensure that short-term/vacation rentals continue to be a travel option for American consumers by legalizing and smartly regulating the activity (47.2%). Two thirds of Americans believe the short-term/vacation rental economy provides a valuable alternative to traditional lodging options like hotels (61.16%). 1 in 3 Americans would be less inclined to visit a city if it banned STRs (33.53) 1 in 2 anticipates they or a family member will be a STR guest in the next two years (48.08%). SECONDARY FINDINGS The use of STR platforms is evenly distributed by age, with each age bracket accounting for approximately one fourth of total usage. Individuals between the ages of are more likely to act as STR hosts (at 8.82%) than any other age cohort. More than 1 in 4 Americans reporting no previous usage of STRs believe they would be less inclined to visit if STRs were 3

4 banned (26.3%). Therefore using an STR nearly reverses people s opinion on this subject (as previous STR guests report 59.09%). Individuals between the ages of are more likely to consider the availability of STRs when making travel plans (37.87%) while individuals over the age of 60 are not (32.14%) About half of STR hosts do not plan to host in the next two years (48.84%) this seems to indicate that hosting, unlike hotel proprietorship, is an activity from which people come and go. PREVIOUS USERS, COMPARATIVE PREVIOUS SHORT-TERM RENTAL ENGAGEMENT 9 in 10 rate STRs as valuable or extremely valuable (89.9%). Moreover, of over 1000 survey respondents, none rates the impact of STRs as negative. 2 in 3 believe Local and state lawmakers should ensure that short-term/vacation rentals continue to be a travel option for American consumers by legalizing and smartly regulating the activity (65.16%). 9 in 10 believe the short-term/ vacation rental economy provides a valuable alternative to traditional lodging options like hotels (91.92%) 6 in 10 would be less inclined to visit a city if it banned STRs (59.09%). 9 in 10 anticipates they or a family member will be a STR guest in the next two years (88.38%) 1 in 6 anticipates they or a family member will become an STR host over the next two years (16.93%). 4

5 PREVIOUS RIDESHARING ENGAGEMENT 3 in 4 plan to use an STR in the next two years (72.58%). Individuals who have previously been a ridesharing driver or passenger are more likely than the average American to become STR guests (37.50% riders, 44.4% drivers) Individuals who have previously been ridesharing drivers are more likely to also be STR hosts (30.56%). 1 in 3 plans to host a short-term rental in the next two years (29.41) Americans who have been a ridesharing passenger or driver are more likely to rate STRs as valuable or extremely valuable (56.85% riders, 61.11% drivers). Most Americans who have interacted with ridesharing platforms believe local and state lawmakers should ensure that short-term/vacation rentals continue to be a travel option for American consumers by legalizing and smartly regulating the activity (70.42%). Most Americans who have been a ridesharing passenger believe the short-term/vacation rental economy provides a valuable alternative to traditional lodging options like hotels (81.85%). 5

6 RIDESHARING AMERICANS, GENERAL POPULATION PRIMARY FINDINGS 1 in 4 American have been a ridesharing passenger (24.39%) More than 1 in 3 rate ridesharing platforms as valuable or extremely valuable (37.27%). 1 in 2 anticipate they or a family member will utilize a ridesharing platform in the next two years (45.16%) 1 in 3 anticipate they or a family member will utilize ridesharing platform carpool services in the next two years (29.32%) SECONDARY FINDINGS Individuals between the ages of were more likely to report using platforms, accounting for one third of all usage (33.09%) Individuals between the ages of are more likely to be riders (at 32.72%) and to act as drivers (at 5.51%) than any other age cohort. Americans who have used ridesharing are less likely to feel negatively about the services (4.44%). Individuals between the ages of are more likely to view ridesharing as extremely valuable (20.96%: 18-29, 18.46%: 30-44) while individuals above the age of 45 are more likely to hold no opinion on the issue (56.04%: 45-59, 62.29%: 60+) 6

7 Previous passengers are more likely to be open to carpool options (58.33%) Individuals between the ages of are more likely to anticipate using ridesharing over the next two years (55.35%). Individuals between the ages of are more likely to anticipate using ridesharing carpool options over the next two years (40.91%) and more likely to be open to carpool options (29.55%) while individuals over the age of 60 are more likely to be certain they would not interact with the carpool options (71.15%) and more likely to be sure of this fact (90.38%). The same trend holds with driving: Individuals between the ages of are more likely to anticipate driving for ridesharing platforms over the next two years (17.80%) and are more likely to be open to driving (26.52%) while individuals over the age of 60 are more likely to be certain they would not drive (78.85%) and more likely to be sure of this fact (90.38%) TERTIARY FINDINGS Males report engaging as ridesharing drivers at more than double the rate of females (5.02% males, 2.23% females) Out of over 1000 respondents no ridesharing driver rated STRs as not valuable or having negative impact. PREVIOUS USERS, COMPARATIVE PREVIOUS RIDESHARING ENGAGEMENT 9 in 10 rate the platforms as valuable or extremely valuable (88.71%). 7

8 9 in 10 anticipate they or a family member will utilize a ridesharing platform in the next two years (90.73%) 1 in 6 anticipate they or a family member will become a driver through a ridesharing platform in the next two years (16.81%). PREVIOUS SHORT-TERM RENTAL ENGAGEMENT Individuals who have previously been STR guests or hosts are more likely than the average American to utilize ridesharing platforms (46.97% guests, 25% hosts) Americans who have previously been STR guests are more likely to rate ridesharing platforms as valuable or extremely valuable (50.0%) 2 in 3 guests plan to use ridesharing in the next two years (62.44%) 1 in 4 hosts plan to be a ridesharing driver in the next two years (23.81%) 8

9 SURVEY METHODOLOGY This survey was conducted online from November 23 to 24, 2015 by SurveyMonkey among a national sample of 1,017 adults aged 18 and over. Respondents for this survey were selected from the nearly three million people who take surveys on the SurveyMonkey platform each day. Data for this survey have been weighted for age, gender, household income, region, and device type using U.S. Census Bureau data to reflect the demographic composition of the United States. The margin of error is +/-3 percentage points with a confidence rate of 95 percent. 9

10 THE TRAVEL TECHNOLOGY ASSOCIATION ABOUT The Travel Technology Association is the trade association for the travel technology industry, and is dedicated to promoting public policy that helps connects consumers and travel providers, eliminates barriers to travel, and protects the traveling public. Travel Tech members include: Orbitz, Expedia, Priceline, Sabre, Amadeus, Travelport, Skyscanner, Airbnb, HomeAway, TripAdvisor, CheapOAir, and Vegas.com. Learn more about the Travel Technology Association by visiting us at TravelTech.org and following us on CONTACT Philip J. Minardi

11 THE INTERNET ASSOCIATION ABOUT The Internet Association, the unified voice of the Internet economy, represents the interests of the leading Internet companies. Internet Association members include: Airbnb, Amazon, Auction.com, Coinbase, Dropbox, ebay, Etsy, Expedia, Facebook, Fanduel, Gilt, Google, Groupon, Handy, IAC, Intuit, LinkedIn, Lyft, Monster Worldwide, Netflix, Pandora, PayPal, Pinterest, Practice Fusion, Rackspace, reddit, Salesforce.com, Sidecar, Snapchat, SurveyMonkey, TripAdvisor, Twitter, Uber Technologies, Inc., Yahoo!, Yelp, Zenefits, and Zynga. The Internet Association is dedicated to advancing public policy solutions to strengthen and protect Internet freedom, foster innovation and economic growth, and empower users. CONTACT Noah Theran 11